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752091

registered interest
date	14/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Services
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made on the effect on the financial stability of the UK of the Financial Policy Committee's decision of 21 June 2017 to bring forward the assessment of stressed losses on consumer credit lending in the Bank of England's 2017 annual stress test.
tabling member constituency	Ross, Skye and Lochaber
tabling member printed	Ian Blackford
uin	5064
answer	answer is ministerial correction date of answer 20/07/2017 answer text <p>The assessment of the effect of the decisions made by the Financial Policy Committee (FPC) on the financial stability of the UK is a matter for the FPC. The government established the independent FPC in 2013, giving the FPC a primary objective to identify, monitor and take action to remove or reduce systemic risks with a view to protecting and enhancing the resilience of the UK financial system. The FPC comprises thirteen members including the Governor and a non-voting member from HM Treasury (currently the Second Permanent Secretary).</p><p> </p><p>Following its recent policy meeting on 21 June, the FPC published the Financial Stability Report (FSR) on 27 June. The FSR set out the FPC’s latest assessment of the outlook for financial stability in the UK, as well as the actions that the FPC has deemed necessary to meet its objectives.</p><p> </p><p>The Chancellor of the Exchequer is legally required to meet the Governor to discuss the FSR and other matters relating to UK financial stability as appropriate, as soon as possible after the publication of the FSR. HM Treasury will publish a record of this meeting within 6 weeks of the meeting taking place.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay grouped question UIN 5065 5066 5067 question first answered 20/07/2017 14:38:04 answering member 4095 label Biography information for Steve Barclay
tabling member	4390 label Biography information for Ian Blackford

752092

registered interest
date	14/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Services
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made on the effect on the financial stability of the UK of the Financial Policy Committee's decision of 21 June 2017 to raise the UK's Countercyclical Capital Buffer rates from 0 per cent to 0.5 per cent.
tabling member constituency	Ross, Skye and Lochaber
tabling member printed	Ian Blackford
uin	5065
answer	answer is ministerial correction date of answer 20/07/2017 answer text <p>The assessment of the effect of the decisions made by the Financial Policy Committee (FPC) on the financial stability of the UK is a matter for the FPC. The government established the independent FPC in 2013, giving the FPC a primary objective to identify, monitor and take action to remove or reduce systemic risks with a view to protecting and enhancing the resilience of the UK financial system. The FPC comprises thirteen members including the Governor and a non-voting member from HM Treasury (currently the Second Permanent Secretary).</p><p> </p><p>Following its recent policy meeting on 21 June, the FPC published the Financial Stability Report (FSR) on 27 June. The FSR set out the FPC’s latest assessment of the outlook for financial stability in the UK, as well as the actions that the FPC has deemed necessary to meet its objectives.</p><p> </p><p>The Chancellor of the Exchequer is legally required to meet the Governor to discuss the FSR and other matters relating to UK financial stability as appropriate, as soon as possible after the publication of the FSR. HM Treasury will publish a record of this meeting within 6 weeks of the meeting taking place.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay grouped question UIN 5064 5066 5067 question first answered 20/07/2017 14:38:04 answering member 4095 label Biography information for Steve Barclay
tabling member	4390 label Biography information for Ian Blackford

752093

registered interest
date	14/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Services
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made on the effect on the financial stability of the UK of the Financial Policy Committee's decision of 21 June 2017 to set the minimum leverage requirements at 3.25 per cent of non-reserve exposures.
tabling member constituency	Ross, Skye and Lochaber
tabling member printed	Ian Blackford
uin	5066
answer	answer is ministerial correction date of answer 20/07/2017 answer text <p>The assessment of the effect of the decisions made by the Financial Policy Committee (FPC) on the financial stability of the UK is a matter for the FPC. The government established the independent FPC in 2013, giving the FPC a primary objective to identify, monitor and take action to remove or reduce systemic risks with a view to protecting and enhancing the resilience of the UK financial system. The FPC comprises thirteen members including the Governor and a non-voting member from HM Treasury (currently the Second Permanent Secretary).</p><p> </p><p>Following its recent policy meeting on 21 June, the FPC published the Financial Stability Report (FSR) on 27 June. The FSR set out the FPC’s latest assessment of the outlook for financial stability in the UK, as well as the actions that the FPC has deemed necessary to meet its objectives.</p><p> </p><p>The Chancellor of the Exchequer is legally required to meet the Governor to discuss the FSR and other matters relating to UK financial stability as appropriate, as soon as possible after the publication of the FSR. HM Treasury will publish a record of this meeting within 6 weeks of the meeting taking place.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay grouped question UIN 5064 5065 5067 question first answered 20/07/2017 14:38:04 answering member 4095 label Biography information for Steve Barclay
tabling member	4390 label Biography information for Ian Blackford

752094

registered interest
date	14/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Services
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made on the effect on the financial stability of the UK of the Financial Policy Committee's decision of 21 June 2017 to oversee contingency planning to mitigate risk as the UK leaves the EU.
tabling member constituency	Ross, Skye and Lochaber
tabling member printed	Ian Blackford
uin	5067
answer	answer is ministerial correction date of answer 20/07/2017 answer text <p>The assessment of the effect of the decisions made by the Financial Policy Committee (FPC) on the financial stability of the UK is a matter for the FPC. The government established the independent FPC in 2013, giving the FPC a primary objective to identify, monitor and take action to remove or reduce systemic risks with a view to protecting and enhancing the resilience of the UK financial system. The FPC comprises thirteen members including the Governor and a non-voting member from HM Treasury (currently the Second Permanent Secretary).</p><p> </p><p>Following its recent policy meeting on 21 June, the FPC published the Financial Stability Report (FSR) on 27 June. The FSR set out the FPC’s latest assessment of the outlook for financial stability in the UK, as well as the actions that the FPC has deemed necessary to meet its objectives.</p><p> </p><p>The Chancellor of the Exchequer is legally required to meet the Governor to discuss the FSR and other matters relating to UK financial stability as appropriate, as soon as possible after the publication of the FSR. HM Treasury will publish a record of this meeting within 6 weeks of the meeting taking place.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay grouped question UIN 5064 5065 5066 question first answered 20/07/2017 14:38:05 answering member 4095 label Biography information for Steve Barclay
tabling member	4390 label Biography information for Ian Blackford

751685

registered interest
date	13/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Foreign Exchange
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 5 July 2017 to Question 2292, from the hon. Member for Edinburgh South, whether he plans to publish the results of the research on foreign exchange (a) separately from the Government's response to the consultation, (b) in conjunction with the Government's response to the consultation or (c) not at all; if he will bring forward amendments to the draft Payment Services Regulations as a direct result of those findings; and if he will make a statement.
tabling member constituency	Linlithgow and East Falkirk
tabling member printed	Martyn Day
uin	4869
answer	answer is ministerial correction date of answer 20/07/2017 answer text <p>In my answer of 5 July I stated that the Government was conducting research on the effects of transparency in overseas money transfers (involving foreign exchange) on consumer decisions. This research helped to inform the Government’s response to the consultation on the implementation of the second Payment Services Directive (PSDII), which was published on 19 July 2017.</p><p> </p><p>The Government’s response to the consultation explains that, as the second Payment Services Directive is a maximum harmonising Directive, the Government has limited flexibility as to how far we can go beyond its explicit requirements. Although the Government could see some benefit in requiring firms to display the difference between the exchange rate they offer and the interbank exchange rate, it is clear that including such a requirement in PSDII would be gold-plating, and the Government has therefore decided not to do so.</p><p>The Government does not intend to publish the research at this point in time as it relates to the formulation and development of ongoing Government policy.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 20/07/2017 14:29:01 answering member 4095 label Biography information for Steve Barclay
tabling member	4488 label Biography information for Martyn Day

751686

registered interest
date	13/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Bank Services
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what recent discussions he has had with banks on dedicated support for customers who are disabled or have a long-term health condition, a mental health condition or cancer.
tabling member constituency	North Swindon
tabling member printed	Justin Tomlinson
uin	4829
answer	answer is ministerial correction date of answer 20/07/2017 answer text <p>Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery. Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at: <a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel" target="_blank">https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</a></p><p> </p><p> </p><p> </p><p>UK banks’ and building societies’ treatment of their customers is governed by the Financial Conduct Authority (FCA) in its Principles for Businesses and includes a general requirement for firms to provide a prompt, efficient and fair service to all of their customers.</p><p> </p><p> </p><p> </p><p>The House of Lords Select Committee on Financial Exclusion raised a number of issues affecting vulnerable customers in their recent report: <em>Tackling financial exclusion: a country that works for everyone? </em>The Government will respond to that report in due course.</p><p> </p><p> </p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 20/07/2017 14:12:04 answering member 4095 label Biography information for Steve Barclay
tabling member	4105 label Biography information for Justin Tomlinson

751690

registered interest
date	13/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Non-domestic Rates: Appeals
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what complaints he has received on the new system for contesting Business Rate Appeals; and what steps he has taken in response to those complaints.
tabling member constituency	Warley
tabling member printed	John Spellar
uin	4956
answer	answer is ministerial correction date of answer 20/07/2017 answer text <p>The new business rates appeals system, Check, Challenge, Appeal came into effect on 1 April 2017. A new system was required because the previous system was broken. Appeals were made with little or no evidence and more than 70% of appeals resulted in no change.</p><p> </p><p>The Check and Challenge service has been delivered by the Valuation Office Agency as a public beta service, meaning that the system is still being improved. The Valuation Office Agency is actively monitoring the service to identify and address any technical issues in the digital system which affect the customer experience. There have been some complaints about technical faults and lack of functionality in relation to the new service, which are being addressed.</p><p> </p><p>The service is now working normally and work delayed through these issues is being cleared. Thousands of people have used the system and both Checks and Challenges are being made. I have been assured by the Valuation Office Agency that enhanced functionality and additional features for the service will be released throughout this financial year.</p><p> </p><p>Regarding the effectiveness and value for money of the online service, it is expected that the new way of working will provide longer-term value for money as issues are dealt with earlier in the process and there is reduced incentive for speculative appeals.</p><p> </p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 4957 question first answered 20/07/2017 13:46:44 answering member 3935 label Biography information for Mel Stride
tabling member	318 label Biography information for John Spellar

751691

registered interest
date	13/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Valuation Office Agency: Internet
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what recent assessment he has made of the (a) effectiveness and (b) value-for-money of the operation of the Valuation Office Agency website.
tabling member constituency	Warley
tabling member printed	John Spellar
uin	4957
answer	answer is ministerial correction date of answer 20/07/2017 answer text <p>The new business rates appeals system, Check, Challenge, Appeal came into effect on 1 April 2017. A new system was required because the previous system was broken. Appeals were made with little or no evidence and more than 70% of appeals resulted in no change.</p><p> </p><p>The Check and Challenge service has been delivered by the Valuation Office Agency as a public beta service, meaning that the system is still being improved. The Valuation Office Agency is actively monitoring the service to identify and address any technical issues in the digital system which affect the customer experience. There have been some complaints about technical faults and lack of functionality in relation to the new service, which are being addressed.</p><p> </p><p>The service is now working normally and work delayed through these issues is being cleared. Thousands of people have used the system and both Checks and Challenges are being made. I have been assured by the Valuation Office Agency that enhanced functionality and additional features for the service will be released throughout this financial year.</p><p> </p><p>Regarding the effectiveness and value for money of the online service, it is expected that the new way of working will provide longer-term value for money as issues are dealt with earlier in the process and there is reduced incentive for speculative appeals.</p><p> </p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 4956 question first answered 20/07/2017 13:46:44 answering member 3935 label Biography information for Mel Stride
tabling member	318 label Biography information for John Spellar

751208

registered interest
date	12/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Minimum Wage: Wales
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what estimate he has made of the number of employers in Wales who were successfully prosecuted for paying less than the minimum wage in each year for which data is available.
tabling member constituency	Vale of Clwyd
tabling member printed	Chris Ruane
uin	4482
answer	answer is ministerial correction date of answer 19/07/2017 answer text <p>The Government is determined that everyone who is entitled to the National Minimum Wage (NMW) and National Living Wage (NLW) receives it. Anyone who feels they have been underpaid NMW or NLW should contact the Acas helpline on 0300 123 1100. HM Revenue and Customs (HMRC) review all complaints that are referred to them.</p><p> </p><p>HMRC does not record statistics on complaints or investigations by reference to countries of the United Kingdom, Government regions, constituencies or counties. Since 1999, when NMW enforcement began, HMRC has identified over 25,500 employers with total NMW arrears of almost £79 million. Last year (2016/17) HMRC identified over 1,100 employers with total NMW arrears of over £10.9 million.</p><p> </p><p>HMRC cannot comment on the affairs of individual taxpayers, as it has a duty to maintain taxpayer confidentiality. However, the Department for Business for Energy and Industrial Strategy (BEIS) run a naming scheme for employers who are found to have underpaid NMW. You can find more information at: <a href="https://www.gov.uk/government/publications/enforcing-national-minimum-wage-law" target="_blank">https://www.gov.uk/government/publications/enforcing-national-minimum-wage-law</a></p><p> </p><p>I refer the honourable member to the answer provided on 18<sup>th</sup> July 2016, at UIN 42723, for information on prosecution results.</p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 4274 question first answered 19/07/2017 15:03:56 answering member 3935 label Biography information for Mel Stride
tabling member	534 label Biography information for Chris Ruane

751210

registered interest
date	12/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Treasury: Buildings
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will list all of his Department's premises in the UK by region and nation which have over 10 personnel.
tabling member constituency	Dundee East
tabling member printed	Stewart Hosie
uin	4481
answer	answer is ministerial correction date of answer 19/07/2017 answer text <p>HM Treasury has over 10 personnel located at two locations in the UK, they are:</p><p> </p><p>1 Horse Guards Road</p><p>London</p><p>SW1A 2HQ</p><p> </p><p>Rosebery Court</p><p>St Andrews Business Park</p><p>Norwich</p><p>NR7 OHS</p><p> </p> answering member constituency Harrogate and Knaresborough answering member printed Andrew Jones question first answered 19/07/2017 14:50:38 answering member 3996 label Biography information for Andrew Jones
tabling member	1514 label Biography information for Stewart Hosie